The latest report by IMARC Group, titled “Idiopathic Pulmonary Fibrosis Treatment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global idiopathic pulmonary fibrosis treatment market reached a value of US$ 3,278 Million in 2021. Idiopathic pulmonary fibrosis (IPF) is an interstitial lung disease that causes scarring of the lungs, reducing their oxygen delivering capacity. The chronic lung disease is progressive and irreversible in nature as it continuously impacts the functioning of the lungs. It causes difficulty in breathing and does not provide sufficient oxygen to different body parts. IPF can be diagnosed through chest imaging studies, lung biopsies, pulmonary function tests, and antibody tests. Thetreatment includes nintedanib and pirfenidone-based drugs that aid in lung functioning and minimize the risk of acute respiratory deterioration. They are also offered along with oxygen therapy and palliative care, which improve the chances of recovery and provide comfort to the patient.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Idiopathic Pulmonary Fibrosis Treatment Market Trends:
The market is primarily driven by the rising geriatric population,which is susceptible tolung disorders. Aging is considered the greatest risk factor for the development of IPF. Moreover, the growing prevalence of fibrotic diseases, owing to changing lifestyles and heavy consumption of nicotine products like cigarettes is also propelling the demand for IPF treatment. Besides this, major healthcare companies are extensively investing in the development and commercialization of novel drugs, especially in emerging economies, which is fueling the growth of the market. The rising health consciousness among individuals regarding effective management strategies is also creating a positive outlook for the market. Furthermore, increasing healthcare expenditures and improving infrastructure arealso facilitating the market growth. Looking forward, the market value is expected to reach US$ 5,268 Million by 2027, exhibiting a CAGR of 7.89% during the forecast period (2022-2027).
- Based on the drug class, the market has been segmented into MAPK, tyrosine, and autotaxin inhibitors.
- On the basis of the end user, the market has been classified into hospitals, long-term care facilities and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being AdAlta Limited, Angion Biomedica Corp., Boehringer Ingelheim International GmbH (C. H. Boehringer Sohn AG & Co. KG), Bristol-Myers Squibb Company, Cipla Inc., F. Hoffmann-La Roche AG (Roche Holding AG), Fibrogen Inc., Galapagos NV, Liminal BioSciences Inc., Medicinova Inc., Merck & Co. Inc., Novartis AG, and Vectura Group Plc.
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